The euro eased against the dollar on Monday, with the near-term focus on whether U.S. Federal Reserve Chairman Ben Bernanke will give any hint of additional monetary stimulus when he gives testimony to Congress in coming days. The Australian dollar dipped but held on to the bulk of the gains it made on Friday when
Investors breathed a sigh of relief on Monday after Greece’s election eased fears that Europe’s currency bloc would break up, boosting shares and sending the euro to a one-month high.
In an election fought over the punishing austerity package demanded by international lenders as the price of keeping Greece from bankruptcy, opinion polls showed the radical leftist Syriza party, which wants to scrap the deal, running neck and neck with the conservative New Democracy, which broadly backs it.
Oil and copper posted their biggest rally in months on Monday as investors trooped back to riskier assets after Europe threw Spanish banks a lifeline, calming worries about the euro zone debt crisis.
The euro was poised for its biggest daily rally against the dollar in almost eight months on Monday, after Spain secured help for its debt-stricken banks and as Chinese economic data was not as bad as the market had feared.
A day after Greece’s president warned about the possibility of bank runs, Greek political leaders on Wednesday began forming a caretaker government before new elections next month that could lead the rudderless country to exit the euro, a prospect that has already sent jitters sweeping through world markets.
It took months for international finance officials to piece together a bailout that was acceptable to Greek leaders. But it took voters just 12 hours at the polls to deal it a hard blow, leaving Greece on Monday at renewed risk of being pushed off the euro
IT IS half of the Franco-German motor that drives the European Union. It has been the swing country in the euro crisis, poised between a prudent north and spendthrift south, and between creditors and debtors. And it is big. If France were the next euro-zone country to get into trouble, the single currency’s very survival […]
Eurozone finance ministers have agreed a second bailout for Greece after marathon talks in Brussels. Greece will get loans of more than 130bn euros (£110bn; $170bn) and have about 107bn of its debt written off.
Standard & Poor’s downgraded the credit ratings of nine euro zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday 13th for the troubled single currency area.